Latest Stocks: Zurcher Kantonalbank Zurich Cantonalbank Has $2.54 Million Stake in Ingredion Inc (INGR)

Latest Stocks: Zurcher Kantonalbank Zurich Cantonalbank Has $2.54 Million Stake in Ingredion Inc (INGR)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Ingredion Inc (NYSE:INGR) by 65.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,075 shares of the company’s stock after selling 40,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ingredion were worth $2,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INGR. Pictet Asset Management Ltd. increased its position in shares of Ingredion by 112.2% in the first quarter. Pictet Asset Management Ltd. now owns 52,843 shares of the company’s stock valued at $6,364,000 after buying an additional 27,943 shares during the period. Xact Kapitalforvaltning AB increased its position in shares of Ingredion by 11.8% in the first quarter. Xact Kapitalforvaltning AB now owns 5,723 shares of the company’s stock valued at $689,000 after buying an additional 603 shares during the period. Comerica Bank increased its position in shares of Ingredion by 2.6% in the first quarter. Comerica Bank now owns 45,369 shares of the company’s stock valued at $5,552,000 after buying an additional 1,156 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Ingredion by 5.2% in the first quarter. BNP Paribas Arbitrage SA now owns 28,001 shares of the company’s stock valued at $3,372,000 after buying an additional 1,377 shares during the period. Finally, Suntrust Banks Inc. increased its position in shares of Ingredion by 342.5% in the first quarter. Suntrust Banks Inc. now owns 15,936 shares of the company’s stock valued at $1,917,000 after buying an additional 12,335 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Ingredion Inc (INGR) opened at 114.81 on Tuesday. The company’s 50-day moving average price is $118.91 and its 200 day moving average price is $121.36. The firm has a market capitalization of $8.22 billion, a PE ratio of 17.77 and a beta of 0.73. Ingredion Inc has a one year low of $113.07 and a one year high of $140.00.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Ingredion had a net margin of 8.33% and a return on equity of 21.08%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 earnings per share. On average, analysts forecast that Ingredion Inc will post $7.56 earnings per share for the current year. The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, June 28th. Ingredion’s dividend payout ratio is 30.77%.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Ingredion had a net margin of 8.33% and a return on equity of 21.08%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 earnings per share. On average, analysts forecast that Ingredion Inc will post $7.56 earnings per share for the current year. Several research analysts have weighed in on INGR shares. BMO Capital Markets reiterated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research note on Tuesday, May 16th. Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ingredion presently has an average rating of “Hold” and a consensus target price of $143.80.

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